White Tiger Appoints a New Chief Operating Officer
TORONTO, April 4, 2013 /CNW/ - White Tiger Gold Ltd. ("White Tiger" or the "Company") (TSX: WTG) announces that it has appointed Mr. Rinat Ismagilov as Chief Operating Officer.
Mr. Ismagilov has over 25 years of experience in the mining industry in Russia. Since 2009, Mr. Ismagilov has been the General Director of White Tiger Gold Management, the Russian subsidiary of White Tiger Gold Ltd. From 1986 to 2009 Mr. Ismagilov held progressively senior positions in MMC Norilsk Nickel, the world's largest producer of nickel and palladium and one of the leading producers of platinum and copper. Mr. Ismagilov graduated from the National University of Science and Technology with degree in Engineering and Metallurgy.
Commenting on the appointment of Mr. Ismagilov, Sergey Yanchukov, Chairman of White Tiger Gold said, "On behalf of the Board of Directors, I would like to welcome Mr. Ismagilov to his new role as Chief Operating Officer, where his experience in the development of our Russian asset base will benefit the Company."
Mr. Ismagilov will be replacing Dr. Geoffrey P. Cowley, who previously announced his resignation on January 11, 2013. Commenting on the departure of Dr. Cowley, Mr. Yanchukov said, "Dr. Cowley has played a key role in the development of the Company's Russian assets. I would like to thank him for his hard work and service to the Company and, on behalf of White Tiger, wish him well in his future endeavours."
About White Tiger
White Tiger Gold Ltd. is a TSX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation.
Caution Concerning Forward-Looking Information
This news release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements") relating, but not limited to, the Company's expectations, intentions and beliefs (including, without limitation, statements regarding, the Bridge Loan (including the timing of advances thereunder and the terms thereof), the Company's financial position, financial alternatives and the Company's ability to continue operations and the VTB Facility (including the occurrence of an event of default thereunder and its potential effect on the Company)). Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology are used to identify forward-looking statements. Such statements are based on assumptions, estimates, opinions and analysis made by the management of the Company in light of their experience, current conditions and their expectations of future developments as well as other factors which they believe to be reasonable and relevant. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties that may cause actual results to vary include but are not limited to: the Company's inability to obtain additional financing on acceptable terms or at all; the Company's inability to obtain TSX approval of the Bridge Loan in a timely manner or at all; the Company's ability to negotiate a waiver or agreement with VTB Capital in respect of the event of default under the VTB Facility; changes in equity and debt markets; inflation; uncertainties relating to the availability and costs of financing needed to complete exploration, development and production activities; failure to establish estimated mineral resources or mineral reserves (the Company's mineral resource and mineral reserve figures are estimates and no assurances can be given that the indicated levels of gold will be produced); exploration costs varying significantly from estimates; delays in the exploration and development of, and/or commercial production from, the properties in which the Company has an interest; unexpected geological or hydrological conditions; the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties, including the failure of major mining and/or milling equipment; the ability of the Company to service its existing debt facilities; fluctuations in gold and other commodity prices; the existence of undetected or unregistered interests or claims, whether in contract or in tort, over the property of the Company; success of future exploration and development initiatives; competition;operating performance of facilities; environmental and safety risks, including increased regulatory burdens, seismic activity, weather and other natural phenomena; inability to, or delays in, obtaining necessary permits and approvals from government authorities; risks relating to labour; and other exploration, development and operating risks; changes to and compliance with applicable laws and regulations, including environmental laws; political, economic and other risks arising from the Company's activities in Russia; fluctuations in foreign exchange rates; and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE White Tiger Gold Ltd.